FIRM FINED £250
PROFIT ON SALE OF WATCH NAPIER, Thursday For selling a wristlet watch for £l6, which price was unreasonably high and contrary to clause 3 of the Control Prices Emergency Regulations, the jewellery firm of McClurg’s. Limited, Napier, was fined £250 by Mr J. Miller, S.M.. The magistrate pointed out that the fine was the minimum penalty and that the maximum penalty for a company. for a breach of these regulations was £SOOO. “This price showed a net profit of 261 per cent,” remarked Mr Snroule. • Written statement from live ‘jewellers in Napier as to what they considered a fair margin of profit for a watch costing £4 os to land in the shop were given by one as 75 per cent, another 90 per cent, and three at 100 per cent. The magistrate ordered the defendants to pay the overcharge to the War Expenses Account.
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Bibliographic details
Waikato Times, Volume 195, Issue 22393, 6 July 1944, Page 4
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148FIRM FINED £250 Waikato Times, Volume 195, Issue 22393, 6 July 1944, Page 4
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